ORGANIZATION: Westside Development Corporation (WDC) - Board of Directors
POSTING LANGUAGE:
Discussion and possible action on a recommendation from the Finance and Executive committees to select the CPA firm of Leal & Carter, PC, to perform auditing services for the year ending September 30, 2015, with two one-year options for extension.
SUMMARY:
The Westside Development Corporation has an independent financial audit performed annually as a condition of funding from the City of San Antonio. The Board will review and consider the recommended proposal to perform those services.
BACKGROUND INFORMATION:
General
The multi-year agreement for independent financial auditing of the WDC expired after the completion of the last audit. Though a policy does not currently exist to require a change in vendor, staff felt it prudent to solicit proposals. Subsequent discussions on this topic in committee and board meetings throughout the year supported the sentiment.
The Request for Proposals (RFP) was placed on our Web site by July 15, 2015. It was announced in a mass email blast to our list of 1,800+ subscribers, in addition to Facebook and Twitter. A direct email was also sent to the membership list of the San Antonio Certified Public Accountants Society. The solicitation period ended on July 31, 2015.
A total of six proposals were received. Staff reviewed and scored the proposals. The top two were submitted to the Finance Committee for review and the selection of one for the Board to consider.
The Finance Committee recommends the selection of Leal & Carter, PC.
FISCAL IMPACT:
The expense for auditing services will be adjusted according to the proposed fee for services.
RECOMMENDATION:
Staff recommends the selection of Leal & Carter, PC, to provide auditing services for the fiscal year ending September 30, 2015 with two one-year options for extension at the discretion of WDC staff.
MRH - 150826 - Board - Item 5 Memo